Plastic2Oil Inc (PTOI)

[jaxstraw]

JBI FINANCING FALLS INCREDIBLY SHORT OF GOAL

Only $3 million filled out of $10 million offering.

No outside investors could be convinced to put in anything and JBI was forced to rely on it's 4th CEO in 15 months to provide the only subscriptions, and that was just 30% of the total offering.

8k a $10 million offering and only filling $3 million of it, with no outside investors willing to pony up, does not signal to the market a vote of confidence in getting any ROI from informed investors.

None of the 'old whales' or former PIPE investors even stepped to the plate.

Seeing how every one of those 'whales' is in the red from past PIPE investments could be a clue.

They had 6 weeks to find any other investors beside Heddle to subscribe to the other $7 million and came up with a big fat goose egg.

They now have 12 more days ,if they chose to extend the subscription ( which no one knows if they did....so much for 'transparency' and 'shareholder-first mentality' statements from the new CEO) ,and try to convince anybody besides their own CEO to make a commitment to finance and fill out the offering.

Amazing how when the last PIPE was over subscribed it was touted thousands of times as 'whale investor' confidence in Juicy John.

But this go around and they fall far, far short of the $10 million offered, it's being called the 'plan' and they only took as much as they need.

Why offer $10 million then ? lol.

SECURITIES OFFERED: A minimum of $1 million and up to a maximum of $10 million aggregate principal amount of 12% Secured Promissory Notes due August 31, 2018 and Warrants to purchase three million shares (assuming the minimum offering) and up to 10 million shares (assuming the maximum offering) of Common Stock at an exercise price of $0.54 per share. For every $100,000 principal amount of Promissory Notes purchased, the Subscriber shall receive Warrants to purchase 100,000 shares of Common Stock.

Closings . The Company may schedule any number of closings to consummate the sale and issuance of the Notes subscribed for by the Investors in connection with the Offering (the “Closing”); provided that the initial Closing shall be for the sale of Notes equal to or greater than the minimum amount set forth above. The closings shall take place at the offices of the Company at any time designated by the Company, but in no event later than September 30, 2013, subject to extension for up to 15 days at the discretion of the Company.